WeWork India, the country’s biggest flex-space provider, is set to launch its much-awaited IPO on October 3, 2025, aiming to raise approximately Rs 3,000 crore. The public offer will close by October 7, with anchor investor bidding opening on October 1. Its shares are slated to debut on the exchanges around October 10, marking one of the highest-profile IPOs this season in India’s booming office solutions sector.
IPO Structure and Shareholding
This IPO is structured as a pure Offer for Sale (OFS) of up to 4.63 crore shares, with no fresh issue—in other words, WeWork India itself will not see direct proceeds from the fundraising. Instead, current promoter group Embassy Buildcon LLP and global investor 1 Ariel Way Tenant Ltd (WeWork Global) are offloading significant stakes. Embassy Group, the Bengaluru real estate giant, controls 76.2% of WeWork India, while WeWork Global owns about 23.5%.
Established in 2017, WeWork India operates under an exclusive license of the ‘WeWork’ brand and currently manages 7.7 million sq ft (of which 7 million sq ft is operational) with a desk capacity of 1.03 lakh across India’s major metros. It employs over 500 people and has rapidly expanded to 50+ centers in eight cities.
DRHP Filings, Financials, and Funding Trail
WeWork India filed its Draft Red Herring Prospectus (DRHP) in February 2025 and secured SEBI’s go-ahead in July.
Financials:
- FY24: Revenue at Rs 1,737 crore and net loss of Rs 136 crore.
- FY25: Notably, the company turned its first-ever profit—PAT of Rs 128 crore, driven by growth in high-margin premium memberships and a deferred tax gain of Rs 285 crore.
- For FY25 H1 (April–Sep): Total income was Rs 961 crore.
Funding:
- WeWork Global invested $100 million (~Rs 800 crore) in 2021.
- In January 2024, a Rs 500 crore rights issue was completed to pare debt and support expansion.
Peer IPOs and Sector Trends
WeWork’s listing is part of a broader “co-working IPO wave”:
- Awfis went public in May 2024 (₹599 crore IPO), delivering strong post-listing gains.
- Smartworks and EFC (I) Ltd are already listed.
- IndiQube Spaces and names like Table Spaces, The Executive Centre, and Dev Accelerator are preparing IPOs—underscoring rapid sectoral expansion and investor appetite for workspace innovation.
As flex-work adoption grows among startups and corporates, these IPOs reflect rising demand for flexible commercial real estate—supported by post-pandemic shifts, cost efficiency drives, and new work trends.
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Rationale for the IPO
WeWork India’s official documents cite several strategic objectives for the listing:
- Enhance company visibility, brand value, and credibility.
- Provide liquidity to existing shareholders.
- Create a public market for its equity’s future growth and capital raising.
Despite the bankruptcy of its US affiliate, WeWork India’s local business is unaffected—embassy-backed, fully profitable in FY25, and supported by strong demand for flexible space solutions from MNCs, startups, and tech giants alike.
WeWork India’s upcoming IPO stands as a milestone for the coworking sector’s maturing ecosystem. With peer companies like Awfis and Smartworks already testing capital markets and multiple others in the pipeline, flexible workspace is fast becoming a hot favorite among India’s new wave of listed real estate and tech-driven companies.
